Member of the United National Congress, Vasant Bharath.
Former Minister of Trade and Industry, Vasant Bharath is slamming the 2020/2021 Budget Presentation, calling it a ‘a lacklustre, non-descript, uninspiring and directionless wishlist’.
In a statement on Facebook following the presentation, Bharath said the two-hour presentation was a regurgitation of past promises.
“The Revenue Authority and the Gaming Commission have been promised in every budget for the last 5 years. The government seems to have abdicated its responsibility for reviving a stalled and flagging economy, reversing 5 consecutive years of self-inflicted negative growth, promoting foreign direct investment and abandoning our young unemployed and underemployed,” he wrote.
Taking it a step further, the UNC member said that the country has now ‘moved from the Intensive Care Unit to a ventilator’.
“What tax incentives for the corporate sector to stir economic activity? What about the self-employed? What about relief for long suffering pensioners? The insistence of the reintroduction of the property tax denies citizens of discretionary expenditure that is contractionary in nature rather than expansionary. The short-term financial return will be modest and short-lived by comparison to the suffering caused,” he lamented.
He called on the government to find more sustainable approaches to economic diversification in the short-term.
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